Insurer Genworth hunts agency after GE sell-off

Genworth Financial, the global insurance business spun off from General Electric and sold by the conglomerate last week, is on the hunt for a public affairs agency.

PR manager Guy Genney said the 12-month brief was to bolster the firm's profile among 'non-media stakeholders'. The account will cover the UK and Ireland. General Electric's financial division created Genworth in 2003 to house its life and mortgage insurance offerings, and began selling off the firm in stages in May 2004.

Following last week's final disposal of shares, Genworth is
eager to establish itself alongside better-known rivals such as Prudential and MetLife. Despite having 15 million customers and employing nearly 7,000 staff in 24 countries, Genworth is relatively unknown. 

The company is developing 'dramatic' products that link mortgage insurance with involuntary unemployment protection, and universal life insurance with long-term care insurance. It is therefore keen to anticipate and inform policy developments in these areas.

Ketchum holds its domestic PR account, which is unaffected by the new tender.

Genworth Financial is led by chairman, president and CEO Michael D Fraizer.

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